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13.12.2007: Meldung: Calpine Announces Final Results of Plan of Reorganization Voting
Calpine Corporation and its affiliated debtors and debtors in possession (collectively, "Calpine") announced today that the voting results for Calpine"s Fourth Amended Joint Plan of Reorganization (the "Plan") have been filed with the U.S. Bankruptcy Court for the Southern District of New York. Voting by classes of creditors entitled to vote on the Plan illustrate broad-based support for the Plan. Of the more than 2,400 ballots cast, 2,270 or 91% of all voting creditors aggregated across classes voted to accept the Plan (excluding ballots cast by Holders of Interests). 78.4% ($12,744,373,944.77) of the total amount voted by all creditors aggregated across classes voted to accept the Plan.
Although no assurances can be made, Calpine believes that the Plan satisfies the requirements of the Bankruptcy Code and is confirmable notwithstanding the rejection of the Plan by certain classes. A confirmation hearing on the Plan is scheduled to begin on Dec. 17, 2007.
"Calpine"s reorganization has addressed a significant number of very complex issues," said Robert P. May, Calpine"s Chief Executive Officer. "As underscored by the support of many of our creditors, we believe our plan represents a fair and equitable outcome for all the creditors involved and is a testament to the dedication and tireless efforts of all those involved in the process."
May added, "Calpine is now poised to emerge from bankruptcy as a financially stable, stand-alone company with an improved competitive position in the energy industry. We could not have reached this point without the strong support provided by our customers, suppliers and the loyal employees who remained focused on our business and supportive during our bankruptcy."
With regard to the vote, classes consisting of "Senior Note Claims," "ULC1 Settlement Claims," "Canadian Intercompany Claims," "Unsecured Makewhole Claims," and "Unsecured Convenience Class Claims" voted to accept the Plan. Classes consisting of "General Note Claims," "Subordinated Note Claims," "Canadian Guarantee Claims," "Rejection Damages Claims," "General Unsecured Claims" and "Interests" voted to reject the Plan. Other classes of creditors hold claims that are either "unimpaired" or completely impaired under the Plan and therefore are not entitled to vote on the Plan. These classes are "First Lien Debt Claims," "Second Lien Debt Claims," "Other Secured Claims," "Other Priority Claims," "Intercompany Claims, "CalGen Makewhole Claims," and "Intercompany Interests."
Details of the voting results including votes on a class-by-class basis will be available on Dec. 12, 2007, at the following website: http://www.kccllc.net/calpine .
About Calpine
Calpine Corporation is helping meet the needs of an economy that demands more and cleaner sources of electricity. Founded in 1984, Calpine is a major U.S. power company, currently capable of delivering nearly 24,000 megawatts of clean, cost-effective, reliable, and fuel-efficient electricity to customers and communities in 18 states in the U.S. The company owns, leases, and operates low-carbon, natural gas-fired, and renewable geothermal power plants. Using advanced technologies, Calpine generates electricity in a reliable and environmentally responsible manner for the customers and communities it serves. Please visit http://www.calpine.com for more information.
Although no assurances can be made, Calpine believes that the Plan satisfies the requirements of the Bankruptcy Code and is confirmable notwithstanding the rejection of the Plan by certain classes. A confirmation hearing on the Plan is scheduled to begin on Dec. 17, 2007.
"Calpine"s reorganization has addressed a significant number of very complex issues," said Robert P. May, Calpine"s Chief Executive Officer. "As underscored by the support of many of our creditors, we believe our plan represents a fair and equitable outcome for all the creditors involved and is a testament to the dedication and tireless efforts of all those involved in the process."
May added, "Calpine is now poised to emerge from bankruptcy as a financially stable, stand-alone company with an improved competitive position in the energy industry. We could not have reached this point without the strong support provided by our customers, suppliers and the loyal employees who remained focused on our business and supportive during our bankruptcy."
With regard to the vote, classes consisting of "Senior Note Claims," "ULC1 Settlement Claims," "Canadian Intercompany Claims," "Unsecured Makewhole Claims," and "Unsecured Convenience Class Claims" voted to accept the Plan. Classes consisting of "General Note Claims," "Subordinated Note Claims," "Canadian Guarantee Claims," "Rejection Damages Claims," "General Unsecured Claims" and "Interests" voted to reject the Plan. Other classes of creditors hold claims that are either "unimpaired" or completely impaired under the Plan and therefore are not entitled to vote on the Plan. These classes are "First Lien Debt Claims," "Second Lien Debt Claims," "Other Secured Claims," "Other Priority Claims," "Intercompany Claims, "CalGen Makewhole Claims," and "Intercompany Interests."
Details of the voting results including votes on a class-by-class basis will be available on Dec. 12, 2007, at the following website: http://www.kccllc.net/calpine .
About Calpine
Calpine Corporation is helping meet the needs of an economy that demands more and cleaner sources of electricity. Founded in 1984, Calpine is a major U.S. power company, currently capable of delivering nearly 24,000 megawatts of clean, cost-effective, reliable, and fuel-efficient electricity to customers and communities in 18 states in the U.S. The company owns, leases, and operates low-carbon, natural gas-fired, and renewable geothermal power plants. Using advanced technologies, Calpine generates electricity in a reliable and environmentally responsible manner for the customers and communities it serves. Please visit http://www.calpine.com for more information.